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Ethereum Will Rally to $10k by the End of 2021, Analyst Predicts

  • Magnetic Co-Founder Megan Kaspar says that ETH will go to $10k by the end of 2021.
  • Five months ago, Kaspar predicted that ETH will go to the $3k and it did.
  • Kaspar points out that the shift to proof-of-stake will attract institutional investors.

Magnetic Co-Founder Megan Kaspar predicts that ETH will go to $10k by late 2021. Kaspar says that the shift to the proof-of-stake model will attract new investors and institutional investments as well.

Back in January, Kaspar forecasted that ETH will reach $3k. According to Kaspar, investors were undervaluing ETH — this was back when ETH was in the $1k level. Five months later, ETH went up to a new all-time high of $4,067.85.

According to Kaspar, there are some factors that can push ETH into the $8k to $10k level. The upcoming shift to proof-of-stake (PoS) will have a tremendous effect.

Kaspar said,

“The shift to proof of stake for block validation reduces carbon emissions by 99.9%, making Ethereum a green technology.

If ETH becomes more eco-friendly, Kaspar believes that institutional investors would flock to it, pushing the price up to new highs. She even added that it might even push up to $100,000 if institutions decide to adopt Ethereum.

According to Kaspar, “Institutions are mandating that they invest in clean green technologies, and that’s what Ethereum is becoming.” She believes that this makes ETH more attractive to institutional investments compared to Bitcoin’s proof-of-work network.

Back on May 2, crypto YouTuber Sheldon Evans also made the same prediction that ETH will go to the $10k level. In his video ‘Ethereum! ETH to 10K? – A Case for Huge Growth!’, he cited that the advent of Non-Fungible Tokens can contribute highly to the increase in Ethereum price.

This article was first published on coinquora.com

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